The Modernization Theory Explained | The Stages Of Economic Growth

Modernization theory explains the transition from traditional to modern societies, influenced by cultural and social factors. Originating from Max Weber's ideas, it involves democracy, industrialization, and globalization. Rostow's stages describe economic growth from traditional to modern economies, highlighting the need for technological advancement and infrastructure. Critics argue the theory overlooks differences between capitalist and communist societies, focusing mainly on Western economies.

How does modernization theory explain the transition from traditional to modern economies?

What are the main stages of economic growth according to Walt Rostow's theory?

Describe the impact of economic change on individual economic mobility as societies modernize.

What criticisms are mentioned regarding modernization theory?

What role does technology play in the modernization process according to the text?